Form 4: Roku CEO Sells $5.2M in Stock via 10b5-1 Plan

Roku CEO Anthony J. Wood converted 50,000 Class B shares to Class A and subsequently sold them for approximately $5.2 million under a pre-arranged 10b5-1 plan.

Summary

• Anthony J. Wood, CEO and Chairman of the Board of Directors of Roku, Inc. (ROKU), reported transactions on November 10, 2025.
• Mr. Wood converted 50,000 shares of Class B Common Stock into 50,000 shares of Class A Common Stock.
• Following the conversion, Mr. Wood sold a total of 50,000 shares of Class A Common Stock through multiple transactions.
• The sales were executed at weighted average prices ranging from $101.76 to $106.41 per share.
• The total value of the Class A Common Stock sold is approximately $5,193,399.22.
• All sales were conducted pursuant to Mr. Wood's Rule 10b5-1 trading plan.
• After these transactions, Mr. Wood's indirect beneficial ownership includes 16,653,111 shares of Class B Common Stock and various amounts of Class A Common Stock held across several trusts.

Sentiment

Score: 5

Explanation: The filing reports pre-scheduled insider sales by the CEO, which are common for diversification and tax planning, but represent a reduction in direct holdings. The 10b5-1 plan mitigates negative sentiment typically associated with insider sales.

Positives

• The sales were executed under a pre-arranged Rule 10b5-1 plan, indicating a planned diversification or liquidity event rather than a reactive market signal.

Negatives

• Insider selling, even when pre-planned, can sometimes be perceived negatively by the market, although for a CEO with substantial remaining holdings, it is often for personal financial planning.

Future Outlook

This Form 4 filing reports past transactions and does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• Shares sold pursuant to Mr. Wood's 10b5-1 Plan.

Industry Context

This filing is a routine disclosure of insider transactions and does not provide specific insights into broader industry trends or competitive landscape. It reflects an individual executive's personal financial planning.

Related Party Transactions

• The transactions involve shares held indirectly through various trusts associated with Anthony J. Wood, including the Wood 2017 Revocable Trust, Wood 2020 Nonexempt Irrevocable Trust, Wood 2020 Irrevocable Trust, The Anthony J. Wood 2024 Annuity Trust V-B, The Anthony J. Wood 2024 Annuity Trust V, The Anthony J. Wood 2025 Annuity Trust V, and The Anthony J. Wood 2025 Annuity Trust V-B.

Stakeholder Impact

• Shareholders may note the insider sale, but the execution under a 10b5-1 plan suggests a pre-planned financial decision rather than a reaction to company performance, thus likely having a neutral to slightly negative impact on investor sentiment.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates

Recommendation

The reported transactions are routine insider sales executed under a pre-arranged 10b5-1 plan, indicating a planned diversification or liquidity event rather than a reactive market signal. Such transactions by a CEO with substantial remaining holdings typically do not warrant a change in investment recommendation.

Keywords

Roku, ROKU, Anthony J. Wood, insider trading, stock sale, Form 4, 10b5-1 plan, CEO, director, beneficial ownership